The right office can bring countless benefits to your business. Starting from increased productivity and a boost in innovation, it encourages a healthy work-life balance and helps to build new business connections. The criteria which characterizes that “right” office is, of course: great location, comfortable workspace, practical layout, and stylish design, often though, the factor that could outweigh them all is the price. Here are our 6 tips to help you save money while finding the best and most cost-effective workplace for your company.
Tip #1 Opt for serviced offices
Whether you’re a freelancer looking for a desk or are searching for a space for a large company, serviced offices are a great option for any budget and size.
Serviced offices – as the name implies – are venues managed by an administrator. What that means for you is that after signing the lease, you are ready to move in, get comfortable and start working from the get-go. The cost of broadband installation, security, reception facilities, staff kitchen, cleaning services, and more can be crossed off your list.
As your office venue is continually maintained and managed by its space provider, you will only be charged a small monthly fee to cover your cost of usage. What’s worth keeping in mind is that in case of any breakages or malfunctions, from wifi to plumbing, you can rest assured that both the hassle and the costs of repairs are also being handled by the venue administrator.
Tip #2 Review your work model
Many businesses underwent severe changes due to COVID-19, as a result becoming more flexible in their work model. The companies that transitioned to remote work during lockdown are now aware of the need to review their work model and introduce flexible solutions within the company.
According to a 2021 Owl Labs study, “89% of European companies plan on having a hybrid workforce post-pandemic, with only 11% expecting employees to return to the office full-time.“
As we all make our way back to the office, it’s important to assess if there is a need for adjustments in how your company operates. Here are some questions to get started with:
-Does my current work model allow for a quick response to changing circumstances such as lockdowns?
-In the light of COVID-19, should my company invest in an office that prioritizes safety measures, e.g., temperature scanners, touchless solutions, or a “de-densified office” model?
-Could a Collaboration Hub increase innovation and overall productivity within my company?
-Would a “Hub and Spoke” model lower the costs of commuting, giving more flexibility to my team?
-Should I consider a “Hybrid” office model to help my employees transition from remote work back into on-site work?
The answers to these questions are valuable stepping stones helping to set the right expectations, clear goals, and budget for your office.
Opting for a “Hybrid” office model can especially introduce a lot of flexibility, optimizing the amount of space used and lowering the cost of the rent. For example, for a company of 20 employees, this could be the difference between €5,000 and €10,000 cost of rent per month.
Tip #3 How much office space do you actually need?
Following on from #2, pinpointing the work model that most suits your business will allow for an accurate and realistic assessment of the amount of space that you require.
Whether you are a start-up or a company planning to expand its team in the coming months, the way to avoid overpaying is by adjusting your workspace size to the current employee numbers and increasing accordingly. With Serviced Offices, this budget-friendly approach is easy to implement. Flexible leases allow you to customize and control the size of your office space, meaning you only pay for what you use.
Here are some helpful guidelines on how to calculate your office space per employee.
Tip #4 Stop buying furniture
No, this doesn’t mean you should work from an empty, unfurnished office. Your work environment makes an enormous impact on the quality of your work – promoting creativity, motivation, and innovation – so it is good to make your space reflect those values. On the other hand, the budget needed to furnish and equip an office tends to be a big upfront expense as well as a time-consuming process.
For example, an open-space office for a company of 20 employees (assuming 10 sq.m. per employee) can be a minimum expense between €25,000-€30,000.
To save on this costly task, we again look to the benefits of Serviced Office and coworking spaces. These come well furnished, providing you with traditional or standing desks, chairs, presentation screens, printer setup, conference rooms, coffee machines along with other kitchen utilities, and modern decor. Get inspired by these beautifully furnished offices in Berlin and Warsaw that could be home to your company. And read more about the Berlin vs. London coworking scene
Tip #5 Save Time = Save Money
The phrase “Time is Money” is now as true as ever, especially when it comes to the office searching process. The effort spent on hours of sifting through search engine results, offers, and advertisements is only the start. Contacting landlords, exchanging messages, emails, and calls, arranging viewings, consultations and meetings can be long and costly, especially if such a deal does not end up being closed. Robert Chmielewski (CEO of ShareSpace), together with Marcin Dyszyński (CTO and Co-founder of ShareSpace) decided to address this problem as a result, creating ShareSpace. As Robert explains it -“A company working on a big deal requires the involvement of an executive team, CEO, COO, CFO, HR Manager all running point-on-point. If such a transaction requires their commitment for 8 months, multiplying all of their monthly salaries x8 gives us the value of the opportunity cost of what they could have otherwise been doing. We make it possible to minimize that time and cost from x8 down to x2, from one month to one week, and for very small deals, from one week to one or two days. Decreasing the deal time by roughly x4 is a huge saving for many companies.” – using the ShareSpace real-time search engine and end-to-end platform to compare venues, communicate with hosts, arrange viewings, and even close deals – fully online, is a time and money-saving solution. You can find your free office comparison right here.
Tip #6 Use our Office Lease Checklist
Mistakes can be costly, so they are best avoided. 10 mistakes to avoid when leasing an office is a thorough list of recommendations created by our ShareSpace advisors that will help you negotiate, bring down the price, and as a result, save money when signing a lease. Best of all, it’s completely free.
So, are you ready to start saving? At ShareSpace, we can help you find the best workspace for your company. Use our powerful search tool to find an office that answers your needs on your terms.
Need more help? Our advisors are always at hand to answer all your questions and queries!
Do you have any golden piece of money-saving advice when searching for an office? Share it with the rest of our community on Facebook, Instagram, or LinkedIn using #ShareSpaceAdvice
